First, CMC will focus on its
core ceramics activities of Decorative and Tile, which account
for approximately 80% of the total sales of CMC. Peripheral businesses
not related to these activities will be sold.
Secondly, the Decorative sector
will be streamlined. This will give rise to one-off costs of £2.7
million, due mainly to 100 redundancies. Profits will improve
by approximately £2.5 million per annum in 1998.
Commenting on the above, Chris
Clark, Chairman of CMC and Chief Operating Officer of Johnson
Matthey, said: "The actions announced today are designed to focus
CMC on its core ceramics activities and to streamline the business.
This, in turn, will lead to improved performance and profitability."
